The payment services giant Visa Inc. (NYSE: V) reported the earnings for the fiscal third quarter 2026 on July 28. The company generated $11.6 billion in net revenue and $3.32 in non-GAAP ear
The payment services giant Visa Inc. (NYSE: V) reported the earnings for the fiscal third quarter 2026 on July 28.
The company generated $11.6 billion in net revenue and $3.32 in non-GAAP earnings per share (EPS) during the quarter, beating estimates of $11.3 billion revenue and $3.22 EPS.
During the earnings call, Visa CEO Ryan McInerney disclosed that the company is actively investing in each layer of the stablecoin stack, such as blockchain technology, issuance, wallets, infrastructure, orchestration, and applications.
Related: Explained: What is a stablecoin?
McInerney highlighted Visa's partnership with Open Standard to issue the OpenUSD stablecoin. In addition, he also highlighted the launch of the Visa Stablecoin Platform for stablecoin minting, movement, and management.
This platform will integrate with Pismo to enable tokenized deposits for financial institutions, he revealed. Pismo is a global cloud-native issuer processing and core banking platform that Visa acquired in January 2024.
When analyst Jeff Cantwell asked McInerney if OpenUSD is going after established stablecoin players like Circle (NYSE: CRCL) and Tether, the CEO responded that he is not here to choose winners and losers and said OpenUSD has the chance to scale as a payment-based stablecoin.
Visa is going to eliminate about 2,600 jobs, representing roughly 7% of its workforce, Bloomberg reported on July 28. The company made the decision, which primarily affects the technology and product teams, as McInerney seeks to make the firm more efficient.
The Visa stock was trading at $368.18 at the time of writing, up 7% in a month.
Related: New gold-backed Visa card lets users earn 6% cashback
